The Procedures and Features of the products:
- The applicant must attach a certified copy of the contract document as a proof of engagement indicating the remaining term.
- Expected income must be channeled through FOSA.
- The Loan amount is 2 times the deposits.The interest rate will be at 8% per month on a reducing balance
- Loan amount will be determined by appraisal subject to a maximum of Kshs 20,000.
- The repayment period will be 5 months or the remaining term of the contract.
- The loan to be guaranteed by at least 3 permanent employees.